Thursday, August 5, 2010

BP (NYSE:BP) Gets Approval to "Pump, Baby, Pump"

After confirmation from tests the static kill procedure had done its job, National Incident Commander and retired Coast Guard Admiral Thad Allen gave the go ahead to permanently seal the leaking oil.

Allen said, "Based on the successful completion of the static kill procedure and a positive evaluation of the test results, I have authorized BP to cement its damaged well."

BP responded by saying on Thursday morning they'll begin to pump cement into the top of the well.

This has no relationship in general to the relief well being drilled in order to perform a bottom kill, which will guarantee permanent sealing if it's successful, which past experience has shown the process to be, although it has never been attempted at these depths and beyond.

Government reports on how much oil was been eliminated from the equation have been changing frequently, probably because of the politically incorrect way the Gulf of Mexico is cleaning itself up, which has interfered with the official narrative so many wanted to see.

In one of the latest government reports, this one from the Interior Department and the NOAA, they say the amount of oil which has evaporated is about 25 percent. Some of said it is probably closer to 40 percent.

BP was able to capture or burn off about 17 percent of the oil, while the skimming activity was said to have collected 3 percent of the oil, which even with that small amount, could be on the high side.

About 16 percent was supposedly eaten by bacteria or naturally dispersed in a similar way the Gulf has been doing forever with natural leaking oil. That number seems to be increasingly rapidly.

Some scientists and professors have expressed disbelief over these numbers, although it is based more on emotional response and anger over the story not unfolding as they wanted, as they offer no proof whatsoever.

But the reality is the number proffered by the government as to how much oil released into the Gulf of Mexico is largely a guess. And even with using those numbers, the approximate 75 percent of the oil is still gone, according to government and BP.

So whether these people have the training or knowledge to make these assessments is questionable, referring to these university people, as it is very clear the oil is nowhere to be found.

Making noise and screaming does nothing to change that. So "Pump, Baby, Pump" and "Drill, Baby, Drill," as it's going to happen no matter what type of hysterics these people get into. They're losing all clarity and objectivity in light of the actual data and proof.

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